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  • Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
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    MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

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  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

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    The FAAC's revenue distribution from 2017 to August 2023 highlights the dominance of Delta, Akwa Ibom, Rivers, and Bayelsa states in allocations. Despite Lagos' economic prominence, it ranked fifth. Here is the distribution of revenue among states between 2017 and August 2023.

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  • A Trend of Adult literacy rates of African countries

    Between 2018 and 2021, adult literacy rates across African nations exhibited significant disparities. Seychelles and South Africa led with literacy rates of 96% and 95%, respectively, indicating a high proportion of literate adults. Conversely, Chad had the lowest literacy rate during this period.

    These statistics underscore the uneven progress in educational attainment across Africa, highlighting the need for targeted interventions to improve literacy in lower-performing nations.

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    Nigeria was the seventh most populous nation in the world in 2020, with 206.1 million people. Projected to reach a population of 401.3 million by 2050, Nigeria will rank third after India (1st) and China (2nd). According to Institut national d'études démographiques' projections, Nigeria, Ethiopia, DR Congo, Egypt, Tanzania, and Kenya will be among the world’s top 20 most populous countries by 2050.

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  • Only 10% of Nigerians earn above ₦100,000, according to the Nigerian Financial Services Market Report. This aligns with most reports about Nigeria, and it's in sharp contrast to the narratives online.
    See more

  • MTN Nigeria has dominated the country's telecommunications market over the years, accounting for the largest market share. All four operators, apart from 9mobile, recorded a significant increase in their subscriber base between May 2014 and March 2024.

    See more

  • The 2024 Global Peace Index reveals a decline in peacefulness in 97 countries, the highest since the index began.

    Nigeria is among the nations affected by regional conflicts and rising violence. With a peace index score of 2.91, Nigeria is facing increasing challenges.

    A deteriorating peace score impacts foreign investment and economic stability. Global economic losses due to violence reached $19.1 trillion in 2023.

    See more
Other Insights
 
  • Nigeria’s external debt stood at $51.90 billion as of March 2026.
  • External debt increased by just 0.09% from December 2025.
  • Multilateral creditors held the largest share at 46.0%.
  • Commercial creditors accounted for 41.3% of external debt.
  • Bilateral creditors accounted for 12.7% of external debt.
  • The World Bank Group accounted for 38.2% of total external debt.
  • Eurobond holders accounted for 35.7% of total external debt.
  • The World Bank Group and Eurobond holders together accounted for 73.9% of Nigeria’s external debt.
  • Bilateral debt fell by $130 million from December 2025 to March 2026.
  • Commercial external debt increased by about $1.1 billion over the same period.
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  • Nigeria received $22.8 billion in personal remittances in 2025; a 3% year-on-year increase
  • Inflows remained 6.3% below the 2018 record of $24.3 billion.
  • Remittances have recovered from the $17.2 billion recorded in 2020.
  • Nigeria’s 2025 remittance inflows were 32.6% higher than in 2020.
  • Remittances accounted for 7.8% of GDP in 2025.
  • Remittances’ share of GDP fell from 8.8% in 2024.
  • Remittances’ share of GDP remained above the 4.0% recorded in 2023.
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  • Egypt received a record $41.5 billion in remittances in 2025.
  • Remittances increased 40.2% from 2024.
  • The 2025 inflow was 31.7% above the previous record set in 2021.
  • Remittances fell to $19.5 billion in 2023 before rebounding sharply.
  • Remittances more than doubled between 2023 and 2025.
  • Egypt received about $497.9 billion in remittances from 1980 to 2025.
  • The March 2024 FX reforms preceded the sharp recovery in remittance inflows.
  • 2025 marked the highest annual remittance inflow in the series.
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  • Egypt’s manufacturing value added reached $64.4 billion in 2025.
  • Egypt’s manufacturing value added increased 87% since 2002.
  • Nigeria’s manufacturing value added peaked at $47.2 billion in 2014.
  • Nigeria’s 2025 manufacturing value added was $43.6 billion, below its 2014 peak.
  • Nigeria was just $3.1 billion behind South Africa in 2025.
  • South Africa’s manufacturing value added peaked at $44.2 billion in 2018.
  • South Africa’s manufacturing value added fell to $40.5 billion in 2025.
  • Egypt recorded $20.8 billion more manufacturing value than Nigeria in 2025.
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  • Debt service takes 23.14% of Nigeria’s 2026 budget.
  • Domestic debt service accounts for 64.3% of the debt-service allocation.
  • Domestic debt service is nearly twice the external debt-service allocation.
  • The sinking fund receives just 1.8% of the debt-service allocation.
  • Domestic debt service is more than 35 times the sinking-fund allocation.
  • Debt service totals ₦15.81 trillion in the 2026 budget.
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  • Nigeria leads Africa in five of six goat categories, but its largest share is just 18.2% of continental production.
  • Nigeria has 91 million goats, 17.0% of Africa’s total, nearly twice Ethiopia’s 54 million.
  • Nigeria produced 292,000 tonnes of goat meat, making it Africa’s largest producer but only the world’s 5th largest.
  • Chad produced 166,000 tonnes of goat meat, making it Nigeria’s closest African rival.
  • Goat milk is the exception: FAOSTAT records no Nigerian production, while Sudan accounts for 24.8% of Africa’s total.
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  • 1.5 million TB was consumed in May 2026, the highest monthly level on record.
  • 7 million TB was consumed in Jan–May 2026, up 42.1% from the same period in 2025.
  • Jan–May 2026 usage was 88.4% higher than in 2024 and 156.3% higher than in 2023.
  • May’s monthly usage was nearly 2.6× the level recorded three years earlier.
  • The surge points to rapidly growing demand for internet-based services, content and digital activity in Nigeria.
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  • 3G's share of Nigeria's mobile market fell from 16.5% to 5.1% between May 2023 and May 2026.
  • 4G became the dominant network, with its market share rising from 25.1% to 54.3% over the same period.
  • 2G's share declined from 58.4% to 36.1% but still accounted for more than one-third of all mobile connections.
  • 5G expanded nearly 37-fold, growing from less than 0.1% to 4.5% of mobile subscriptions.
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  • Nigeria's 36 states received a combined ₦4.14 trillion in FAAC allocations in Jan-May 2026, up ₦735.4 billion (21.6%) from a year earlier.
  • Thirty-five states received higher allocations than a year earlier, while Rivers was the only state to record a decline (₦7.15 billion).
  • Lagos recorded the largest increase in FAAC allocations (₦119.5 billion), more than three times the increase recorded by Oyo (₦38.3 billion).
  • Oyo, Kano, Borno, and Jigawa rounded out the top five states with the largest increases in FAAC allocations.
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  • OPay and Chipper Cash became Africa's fastest unicorns, reaching $1 billion in just 3 years.
  • Interswitch took 17 years to become a unicorn, the longest journey on the list.
  • Moove became Africa's 10th unicorn, reaching the milestone 6 years after it was founded.
  • Half of Africa's unicorns reached a $1 billion valuation within 6 years.
  • Eight of the 10 African unicorns primarily operate in the fintech sector.
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  • Nigeria's insurance industry generated ₦2.3 trillion in gross premium written in 2025.
  • Gross premium written increased 47.3% from ₦1.56 trillion in 2024.
  • Premiums have grown by 273% since 2021, from ₦616.6 billion.
  • Gross premium written has increased every year since 2021.
  • Premium growth does not necessarily mean higher insurance coverage or profitability.
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  • AXA Mansard, NEM Insurance and AIICO generated 51.7% of the combined revenue of 17 NGX-listed insurers.
  • The top three earned ₦449.9 billion, ₦30.3 billion more than the other 14 insurers combined.
  • The 17 insurers generated a combined ₦869.6 billion in insurance revenue in 2025.
  • AXA Mansard recorded the highest insurance revenue at ₦160.6 billion.
  • Revenue rose at 15 insurers, but only four reported higher profits.
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1 2 3 … 132
  • Nigeria’s external debt stood at $51.90 billion as of March 2026.
  • External debt increased by just 0.09% from December 2025.
  • Multilateral creditors held the largest share at 46.0%.
  • Commercial creditors accounted for 41.3% of external debt.
  • Bilateral creditors accounted for 12.7% of external debt.
  • The World Bank Group accounted for 38.2% of total external debt.
  • Eurobond holders accounted for 35.7% of total external debt.
  • The World Bank Group and Eurobond holders together accounted for 73.9% of Nigeria’s external debt.
  • Bilateral debt fell by $130 million from December 2025 to March 2026.
  • Commercial external debt increased by about $1.1 billion over the same period.
Read more
  • Nigeria received $22.8 billion in personal remittances in 2025; a 3% year-on-year increase
  • Inflows remained 6.3% below the 2018 record of $24.3 billion.
  • Remittances have recovered from the $17.2 billion recorded in 2020.
  • Nigeria’s 2025 remittance inflows were 32.6% higher than in 2020.
  • Remittances accounted for 7.8% of GDP in 2025.
  • Remittances’ share of GDP fell from 8.8% in 2024.
  • Remittances’ share of GDP remained above the 4.0% recorded in 2023.
Read more
  • Egypt received a record $41.5 billion in remittances in 2025.
  • Remittances increased 40.2% from 2024.
  • The 2025 inflow was 31.7% above the previous record set in 2021.
  • Remittances fell to $19.5 billion in 2023 before rebounding sharply.
  • Remittances more than doubled between 2023 and 2025.
  • Egypt received about $497.9 billion in remittances from 1980 to 2025.
  • The March 2024 FX reforms preceded the sharp recovery in remittance inflows.
  • 2025 marked the highest annual remittance inflow in the series.
Read more
  • Egypt’s manufacturing value added reached $64.4 billion in 2025.
  • Egypt’s manufacturing value added increased 87% since 2002.
  • Nigeria’s manufacturing value added peaked at $47.2 billion in 2014.
  • Nigeria’s 2025 manufacturing value added was $43.6 billion, below its 2014 peak.
  • Nigeria was just $3.1 billion behind South Africa in 2025.
  • South Africa’s manufacturing value added peaked at $44.2 billion in 2018.
  • South Africa’s manufacturing value added fell to $40.5 billion in 2025.
  • Egypt recorded $20.8 billion more manufacturing value than Nigeria in 2025.
Read more
  • Debt service takes 23.14% of Nigeria’s 2026 budget.
  • Domestic debt service accounts for 64.3% of the debt-service allocation.
  • Domestic debt service is nearly twice the external debt-service allocation.
  • The sinking fund receives just 1.8% of the debt-service allocation.
  • Domestic debt service is more than 35 times the sinking-fund allocation.
  • Debt service totals ₦15.81 trillion in the 2026 budget.
Read more
  • Nigeria leads Africa in five of six goat categories, but its largest share is just 18.2% of continental production.
  • Nigeria has 91 million goats, 17.0% of Africa’s total, nearly twice Ethiopia’s 54 million.
  • Nigeria produced 292,000 tonnes of goat meat, making it Africa’s largest producer but only the world’s 5th largest.
  • Chad produced 166,000 tonnes of goat meat, making it Nigeria’s closest African rival.
  • Goat milk is the exception: FAOSTAT records no Nigerian production, while Sudan accounts for 24.8% of Africa’s total.
Read more
1 2 3 … 263
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